Sydney is one of the most important financial centres in the Pacific in terms of a foreign exchange market that trades around the clock。Australian traders are mainly active in Asian trading sessions, usually characterized by low trading activity and increased volatility。

Forex Trading in Australia

When choosing a broker, the most important thing for traders in Australia is whether the broker has a license from the Australian Service and Investment Commission (ASIC).。ASIC is Australia's financial regulator responsible for overseeing and facilitating the operation of the market.。In order to offer derivatives trading solutions to Australian clients, all brokers must be authorised by ASIC。

Choosing the right broker is a difficult task, so choose a trusted partner who can meet your needs from the very beginning.。This article will recommend different forex brokers for you according to specific categories, so that you can find a broker that suits your personal trading style, risk tolerance and other requirements.。

Best Forex Broker in Australia

IC Markets ——Overall Best

IC Markets was founded in 2007 and is regulated by ASIC under license number 335692 with offices in Sydney, Australia。Supports trading in 8 foreign exchange pairs, 1 index, 21 stock CFDs, with deposits and withdrawals in Australian dollars。

Advantages	Disadvantages
Low cost	Unequal commissions for MetaTrader and cTrader accounts
Diverse account types and trading platforms	Option trading not supported
Rich education and research resources
Fast Order Execution

Based on real-time testing of IC Markets spreads, the transaction costs of IC Markets are the same as 0 on the standard account..The 6-point EUR / USD spread and commission-free trading are very competitive.。Customers can trade on MetaTrader 4, 5 or cTrader platforms, all three offering insight into price action。Minimum deposit $200。

In addition, IC Markets "high-quality and efficient order execution effectively supports various strategies such as scalping, intraday trading and algorithmic trading.。

Plus500 - Best ASIC Regulatory

Founded in 2008, Plus500 is headquartered in Israel, listed on the London Stock Exchange and has offices in Australia.。Offers zero commissions and competitive spreads, a feature-rich platform for users, and more than 2,800 tradable instruments。The broker is regulated by ASIC, license number 417727。

Plus500 enables clients to trade 7 forex pairs, 1 index and 69 stocks。In addition, a wide range of Australian company stock CFDs are available, and local stock traders can choose from a sufficient number of such derivatives and trade during the Sydney trading session, with deposits and withdrawals paid in Australian dollars.。

Advantages	Disadvantages
Multi-layer protection	No desktop platform
Commission-free trading
Multifunctional internal platform
Multiple Tradable Instruments

Plus500's transaction fees are quite competitive, it has no volume-based commissions, only conversion fees and spreads.。An overnight fee is charged when an executed position lasts longer than one day。Minimum deposit $100。

Plus500 has been observed to have a EUR / USD spread of 1.0 points, in line with the industry average, its proprietary platform has a clear functional interface and a high degree of customization.。In addition, more than 100 technical indicators and drawing tools, 11 time frames and a variety of order types are available, which are also suitable for high-frequency trading and long-term trading.。

TMGM ——Best for professional traders

TMGM was founded in 2013 and is regulated by ASIC under license number 436416 with offices in Sydney, Melbourne, Adelaide and Canberra, Australia.。Supports trading of 10 forex pairs and 1 index, with deposits and withdrawals paid in Australian dollars。

TMGM offers more than 12,000 instruments across 7 asset classes and supports options trading。Professionals can use the seamless IRESS platform tailored for stock trading, while retail traders can choose MetaTrader 4 (MT4) and enjoy a highly liquid supply。

Advantages	Disadvantages
Fast order execution to reduce slippage risk	Two-factor authentication is not supported
Extensive trading tools	few kinds of goods
Low transaction costs	Higher inactivity fee ($30)

TMGM is understood to offer multiple account types with low spreads and low commissions。Among them, the classic account trading commission-free, EUR / USD floating spread of 0.9: 00, in line with the industry average。Minimum deposit $100。

GO Markets - Best Low Spread

Go Markets was founded in 2006 and is regulated by ASIC under license number 254963 with an office in Melbourne, Australia。There are 1,291 tradable instruments per account, with deposits and withdrawals paid in Australian dollars.。

GO Markets customers can use the MetaTrader 4, MetaTrader 5 and cTrader platforms and enjoy the add-ons of algorithmic trading and documentary trading。In addition, the broker offers VPS services to support fast order execution and detailed trading parameters.。

Advantages	Disadvantages
Low spreads, low commissions	Cryptocurrency trading not open on weekends
Provide common third-party tools
The internal content is rich and practical
Low latency, fast order execution

Among them, the GO standard account offers commission-free trading with a foreign exchange spread of 0.8: 00, below the industry average。GO Plus accounts offer raw spreads of 0 per standard lot.0 + 3 AUD。STP commission-free accounts have low floating spreads; ECN accounts offer original spreads and low fixed commissions, and deposits and withdrawals are free.。Minimum deposit of $100 for all accounts。

FP Markets - The Best Tradable Tool

FP Markets was founded in 2005 and is regulated by ASIC under license number 286354 with an office in Sydney, Australia。The broker offers more than 13,000 instruments that can be traded as CFDs, including over 60 forex currency pairs, over 10 commodities, over 50 stocks, 4 cryptocurrencies, over 15 indices, bonds and ETFs。Deposits and withdrawals paid in Australian dollars。

FP Markets allows customers to use the MetaTrader 4, 5 and IRESS platforms and is ideal for experienced stock traders。Multiple trading indicators and graphing tools built into the three platforms to capture the essence of price action。

Advantages	Disadvantages
Over 13,000 tradable instruments	Equity CFD spreads slightly higher than other asset classes
Low cost
Many platforms
Fast Order Execution

It is understood that FP Markets offers 0.Original spreads from 0 and fast order execution。Standard accounts offer commission-free trading, with a fixed commission of $6 on the original account, which is below the industry average.。Minimum deposit $100。

ThinkMarkets - The Best Trading Platform

ThinkMarkets was founded in 2010 and is regulated by ASIC under license number 412816 and is headquartered in Melbourne, Australia。Customers can trade 5 forex pairs, 208 CFD shares and 1 index, with deposits and withdrawals paid in Australian dollars.。

ThinkMarkets has over 4,000 leveraged CFDs, giving traders access to multiple markets。Proprietary platform user-friendly, TrendRisk Scanner function to inform traders of current opportunities in a timely manner。

Advantages	Disadvantages
Regulated by multiple jurisdictions worldwide	Proprietary platform for standard accounts only
Platform user-friendly and intuitive	Limited educational materials (for experienced traders)
Spread is generally low
Two-factor authentication

ThinkMarkets accounts are versatile, with standard accounts offering commission-free trading and 0.Floating spreads from 4 o'clock, below industry average。In addition, traders are allowed to practice high-frequency trading and high-volume trading。No minimum deposit。

FXCM - Best for beginner traders

FXCM has more than two decades of industry experience, is regulated by ASIC, license number 309763, and has an office in Melbourne, Australia, providing traders with a variety of educational materials and research resources, c

The broker also offers the best platforms in the industry including Trading Station, TradingView, MetaTrader and NinjaTrader。

Advantages	Disadvantages
High-quality educational materials and research resources	Higher inactivity fees ($50)
Wide range of available platforms and tools	Limited choice of trading instruments
Low point difference
Reliable customer support

For novice traders, FXCM offers a competitive pricing model with low spreads and fees for standard account types, in line with industry averages。Minimum deposit $50。

EightCap - Best Cryptocurrency Trading

Founded in 2009, EightCap is regulated by ASIC under license number 391441 and has an office in Melbourne, Australia。Customers can trade 6 foreign exchange pairs, 200 CFD companies and 1 index, 6 foreign exchange pairs, 200 CFD companies, 1 index, deposits and withdrawals are paid in Australian dollars.。

EightCap offers more than 100 cryptocurrency CFDs offering Cryptocrusher, Capitalise.ai's aids for traders to measure market sentiment and automated trading services, respectively.。Also, the broker supports TradingView social trading and MetaTrader 4, 5 trading platforms。Minimum deposit $100。

Advantages	Disadvantages
A variety of optional cryptocurrencies	Limited educational content
Multiple Cryptocurrency Trading Tools
VPS Hosting

AvaTrade - Best Forex Trading APP

AvaTrade was founded in 2006, regulated by ASIC, license number 406684, headquartered in Sydney, Australia, customers can trade 7 foreign exchange currency pairs, 7 foreign exchange currency options, 1 index, 1 ETF and a variety of CFDs shares, deposits and withdrawals paid in Australian dollars.。

AvaTrade offers a variety of trading apps - AvaTradeGo, AvaTrade Options and AvaSocial - allowing traders to access a wide range of markets and easily place orders or adjust positions。

Advantages	Disadvantages
Regulated by multiple jurisdictions worldwide	Investor compensation plans do not apply to all entities
Support options trading
Multiple apps function differently

It is understood that the transaction costs of CFDs are much lower than the industry average, including foreign exchange pairs and commodity spreads, which also do not apply to equity CFDs and equity indices.。Minimum deposit $100。

ACY Securities - Best Account Type Selection

ACY Securities was founded in 2011 and is regulated by ASIC under license number 403863 and is headquartered in Sydney, Australia.。Customers can trade 9 forex currency pairs, more than 190 CFD shares, 29 ETFs and 1 index, with deposits and withdrawals paid in Australian dollars.。

The broker offers more than 2000 leveraged products that can be traded on MetaTrader 4 and 5 and is equipped with a lot of educational and research materials。In addition, ACY Securities offers Islamic accounts to support multiple needs。

Advantages	Disadvantages
Low minimum deposit	Withdrawal charges
Islamic account (no overnight interest)
Low spreads, low commissions
Multilingual Customer Support

ACY Securities offers two main account types: standard accounts offer commission-free trading, floating spreads are below the industry average, and are suitable for high-frequency trading.。Original spreads for Pro Zero accounts from 0.1 commission per hand fixed round from 0.$5, one of the lowest commissions in Australia。Minimum deposit $50。

Evaluating Brokersimportant factors of

By using the comprehensive analysis method, the following key evaluation factors are summarized:

ASIC Regulation: Only highly transparent brokers regulated by the Australian Services and Investments Commission (ASIC) are considered。

Office in Australia: Only brokers and broker entities with offices in Australia are considered。

Deposit and withdrawal methods: Given that Australian traders want to avoid paying high commissions / exchange fees, only brokers with Australian dollar payments are considered.。

Local customer support: Due to the regional specificity of Sydney trading sessions, only brokers that can provide customer support during these times are considered。

Low fees: Assess the competitiveness of accounts that offer commission-free trading, floating spread combinations, and other accounts that offer original spreads, fixed commissions。

Multiple accounts: Seek a variety of account types and functions, assess the number of tradable instruments, and implement complex trading strategies。

Trading platform: assess the user-friendliness of the platform, the number of financial instruments and trading instruments owned。

Trading Experience: From experienced professionals to novice traders, evaluate how brokers can meet the special needs of traders with different levels of experience。